Loan Program
Jumbo Loans in Florida
A jumbo loan finances an amount above the conforming loan limit set by FHFA for your county. Jumbo loans are common in Florida luxury markets and typically require stronger credit, larger down payments, and more cash reserves. Programs vary by investor, including options for self-employed and high-net-worth borrowers.
Last updated October 7, 2026
Jumbo requirements
| Loan amount | Above the county conforming loan limit |
|---|---|
| Down payment | Often 10%–20% or more, depending on program |
| Credit | Typically stronger credit profiles |
| Reserves | Several months or more of payments in reserve is common |
| Income documentation | Full documentation; alternative options exist through Non-QM |
| Appraisal | Full appraisal; some programs require two for higher amounts |
Florida-specific considerations
Markets like Miami Beach, Coral Gables, Key Biscayne, Pinecrest, Fort Lauderdale's waterfront, Boca Raton, Palm Beach, and Naples regularly see prices above conforming limits. Waterfront and coastal homes may also carry higher insurance costs and flood insurance requirements that underwriters factor into qualifying.
Many luxury Florida properties are condos in high-rise buildings, where reserve studies, milestone inspections, and special assessments can affect financing. Jumbo investors also scrutinize insurance coverage levels for high-value homes, so it helps to get insurance quotes early.
South Florida has many self-employed and internationally connected buyers. When traditional documentation doesn't reflect true income, bank statement or asset-based options may be paired with jumbo loan sizes.
For 2026, FHFA's baseline conforming loan limit for a one-unit property is $832,750 (two-unit: $1,066,250). In Florida, only Monroe County (the Florida Keys) has a higher limit, $990,150. Miami-Dade, Broward, Palm Beach, Orange, Hillsborough, and every other Florida county use the $832,750 baseline. A loan above the applicable limit is a jumbo loan.
Sources: FHFA: Conforming Loan Limit Values for 2026; Florida Realtors: FHFA sets 2026 caps
Who a Jumbo loan is for
- Buyers of homes above the conforming loan limit
- High-net-worth borrowers with significant assets
- Second-home buyers in luxury markets
- Self-employed borrowers who may need alternative documentation
Step-by-step process
- 01
Strategy call
Discuss price range, assets, and documentation.
- 02
Pre-approval
Full review of income, assets, and reserves.
- 03
Contract and appraisal
Appraisal(s) confirm value for higher loan amounts.
- 04
Underwriting
Clear conditions with careful attention to assets and insurance.
- 05
Closing
Review documents and close.
Related programs
Related guides
Jumbo loan FAQs
What counts as a jumbo loan in Florida?
Any loan amount above the conforming loan limit for the county where the property is located. FHFA sets those limits each year. Jennyffer will confirm the current limit for your county and whether your purchase falls into jumbo territory.
How much do I need down for a jumbo loan?
Requirements vary by program and loan size, but 10% to 20% or more is common. Larger loan amounts usually require bigger down payments and more reserves. Some programs allow lower down payments for strong borrowers.
Can I get a jumbo loan if I'm self-employed?
Yes. Traditional jumbo programs use tax returns, while some Non-QM jumbo programs use bank statements or assets to qualify. The right path depends on how your income is documented.
Do jumbo loans require mortgage insurance?
Most jumbo loans don't use mortgage insurance; instead, investors require larger down payments and reserves to manage risk. Requirements depend on the specific program.
Can I use a jumbo loan for a condo?
Yes, but the building must meet the investor's project review standards, including reserves, insurance, and the condition of the building. Post-Surfside inspection and reserve requirements are part of that review in Florida.
Are reserves required for jumbo loans?
Usually. Reserves are liquid or retirement assets remaining after closing, measured in months of mortgage payments. The required amount depends on loan size, property type, and the number of properties you own.
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Equal Housing Lender. This is not a commitment to lend. All loans are subject to credit approval, underwriting guidelines, and property eligibility. Program availability, terms, and guidelines may change without notice. Information is for educational purposes only.